Trade Report: The BNP Paribas Arbitrage SA Increases Position in Blackhawk Network Holdings Inc. (HAWK)

The BNP Paribas Arbitrage SA Increases Position in Blackhawk Network Holdings Inc. (HAWK)

BNP Paribas Arbitrage SA increased its position in shares of Blackhawk Network Holdings Inc. (NASDAQ:HAWK) by 113.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,645 shares of the company’s stock after buying an additional 2,470 shares during the period. BNP Paribas Arbitrage SA’s holdings in Blackhawk Network Holdings were worth $140,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. DekaBank Deutsche Girozentrale increased its stake in Blackhawk Network Holdings by 37.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 3,333 shares of the company’s stock worth $109,000 after buying an additional 911 shares during the last quarter. US Bancorp DE increased its stake in Blackhawk Network Holdings by 94.7% in the second quarter. US Bancorp DE now owns 5,800 shares of the company’s stock worth $194,000 after buying an additional 2,821 shares during the last quarter. Penserra Capital Management LLC increased its stake in Blackhawk Network Holdings by 22.6% in the second quarter. Penserra Capital Management LLC now owns 6,392 shares of the company’s stock worth $214,000 after buying an additional 1,178 shares during the last quarter. HBK Investments L P increased its stake in Blackhawk Network Holdings by 10.3% in the first quarter. HBK Investments L P now owns 6,400 shares of the company’s stock worth $220,000 after buying an additional 600 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of Blackhawk Network Holdings by 1.1% in the second quarter. ProShare Advisors LLC now owns 6,720 shares of the company’s stock worth $225,000 after buying an additional 73 shares in the last quarter. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

Blackhawk Network Holdings Inc. (NASDAQ:HAWK) opened at 31.93 on Wednesday. The stock has a market cap of $1.80 billion, a PE ratio of 79.03 and a beta of 0.67. Blackhawk Network Holdings Inc. has a 12 month low of $28.88 and a 12 month high of $48.40. The firm has a 50-day moving average of $31.78 and a 200 day moving average of $33.15.

Blackhawk Network Holdings (NASDAQ:HAWK) last announced its quarterly earnings results on Tuesday, October 11th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.04. Blackhawk Network Holdings had a net margin of 1.24% and a return on equity of 15.40%. The company had revenue of $361.60 million for the quarter. During the same period last year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Analysts anticipate that Blackhawk Network Holdings Inc. will post $1.57 EPS for the current year.

A number of brokerages have recently issued reports on HAWK. Zacks Investment Research upgraded shares of Blackhawk Network Holdings from a “sell” rating to a “strong-buy” rating and set a $41.00 price target for the company in a report on Wednesday, July 27th. Bank of America Corp. upgraded shares of Blackhawk Network Holdings from a “neutral” rating to a “buy” rating and set a $41.00 price target for the company in a report on Friday, July 22nd. Jefferies Group restated a “buy” rating and set a $43.00 price target on shares of Blackhawk Network Holdings in a report on Monday. Finally, Credit Agricole SA upgraded shares of Blackhawk Network Holdings from an “underperform” rating to an “outperform” rating and raised their price target for the stock from $34.00 to $36.00 in a report on Wednesday, September 21st. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Blackhawk Network Holdings has an average rating of “Buy” and an average target price of $42.75.

In related news, Director Arun Sarin sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $35.92, for a total transaction of $898,000.00. Following the transaction, the director now owns 40,529 shares of the company’s stock, valued at $1,455,801.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.24% of the stock is currently owned by company insiders.

About Blackhawk Network Holdings

Blackhawk Network Holdings, Inc is a prepaid payment network. The Company offers a range of prepaid gift, telecom and debit cards, in physical and electronic forms, as well as related prepaid products and payment services. The Company’s segments are US Retail, International Retail and Incentives & Rewards.

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